The National Institute of Statistics in Spain has released the preliminary data for the Consumer Price Index (CPI) for the current month of January, which showed an acceleration in the growth rates of inflation in the country. According to the data released today (Thursday), the change in the overall Consumer Price Index rose by 3% in January on a year-on-year basis, compared to 2.8% recorded in December, and exceeded market expectations which had anticipated a growth of only 2.9%. On a monthly basis, the Consumer Price Index in Spain increased by 0.2% in January compared to December, which was also higher than the previous reading of 0.0%, and compared to analysts' expectations of an increase of 0.5%. At the same time, the annual core inflation rate in Spain also recorded 2.9% in December, exceeding analysts' expectations and the previous reading which showed an increase of 2.8%.
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